Securitization and the Global Economy

Securitization and the Global Economy

Author: Bonnie G. Buchanan

Publisher: Springer

Published: 2016-12-29

Total Pages: 251

ISBN-13: 1137342870

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This book examines the controversial issue of securitization in a global, historical context. It traces its origins and compares evidence of securitization across countries, linking differences to variations in legal, political, and cultural regimes. By incorporating the history and current status of securitization (including sources of value and risk) with alternative markets and future outlooks for the global market, Buchanan provides an overall assessment of the costs, benefits, and sustainability of securitization in the global economy, particularly in the aftermath of the 2007-2009 financial crisis. The book also offers a roadmap for future research. As financial regulators around the world plan a sweeping overhaul of securitization markets with tough new rules designed to restore market confidence, it is essential to consider the global outlook for securitization.


Book Synopsis Securitization and the Global Economy by : Bonnie G. Buchanan

Download or read book Securitization and the Global Economy written by Bonnie G. Buchanan and published by Springer. This book was released on 2016-12-29 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the controversial issue of securitization in a global, historical context. It traces its origins and compares evidence of securitization across countries, linking differences to variations in legal, political, and cultural regimes. By incorporating the history and current status of securitization (including sources of value and risk) with alternative markets and future outlooks for the global market, Buchanan provides an overall assessment of the costs, benefits, and sustainability of securitization in the global economy, particularly in the aftermath of the 2007-2009 financial crisis. The book also offers a roadmap for future research. As financial regulators around the world plan a sweeping overhaul of securitization markets with tough new rules designed to restore market confidence, it is essential to consider the global outlook for securitization.

Securitization

Securitization

Author: Miguel A. Segoviano Basurto

Publisher: International Monetary Fund

Published: 2015-01-26

Total Pages: 35

ISBN-13: 1498317952

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The discussion in this note seeks to preserve the beneficial features of securitization while mitigating those that may pose risks to financial stability. A comprehensive set of reforms—targeting both supply- and demand-side inefficiencies—will be needed to put securitization back on a sound, growth-supportive footing. The note departs from others in proposing a broad suite of principles applicable to various elements of the financial intermediation chain. After indentifying where policy makers have already made progress, we then propose measures to address remaining impediments to the rehabilitation of securitization markets. We also encourage more consistent industry standards for the classification of risk (albeit applied at a granular rather than overarching level). Finally, we introduce various initiatives that could aid in fostering the development of a diversified non-bank investor base for securitization in Europe.


Book Synopsis Securitization by : Miguel A. Segoviano Basurto

Download or read book Securitization written by Miguel A. Segoviano Basurto and published by International Monetary Fund. This book was released on 2015-01-26 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: The discussion in this note seeks to preserve the beneficial features of securitization while mitigating those that may pose risks to financial stability. A comprehensive set of reforms—targeting both supply- and demand-side inefficiencies—will be needed to put securitization back on a sound, growth-supportive footing. The note departs from others in proposing a broad suite of principles applicable to various elements of the financial intermediation chain. After indentifying where policy makers have already made progress, we then propose measures to address remaining impediments to the rehabilitation of securitization markets. We also encourage more consistent industry standards for the classification of risk (albeit applied at a granular rather than overarching level). Finally, we introduce various initiatives that could aid in fostering the development of a diversified non-bank investor base for securitization in Europe.

Securitization Economics

Securitization Economics

Author: Laurent Gauthier

Publisher: Springer Nature

Published: 2020-07-31

Total Pages: 494

ISBN-13: 3030503267

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Securitization is widely used around the world, and structured products are one of the largest fixed-income asset classes. This textbook guides readers through the complexity of this financial technique and first introduces them to the mechanics of securitization and makes the key concepts, techniques and logic of this field accessible for teachers and students alike. Further, the textbook presents a systematic economic analysis of securitization, asking and answering why it exists, how it works, why it has failed, how complex structures operate, why they are so complex, and many other related questions. The author offers a unique approach, and combines detailed discussions of theoretical economics models with advanced empirical research in order to confront them to the perspective of an experienced practitioner in this market.


Book Synopsis Securitization Economics by : Laurent Gauthier

Download or read book Securitization Economics written by Laurent Gauthier and published by Springer Nature. This book was released on 2020-07-31 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: Securitization is widely used around the world, and structured products are one of the largest fixed-income asset classes. This textbook guides readers through the complexity of this financial technique and first introduces them to the mechanics of securitization and makes the key concepts, techniques and logic of this field accessible for teachers and students alike. Further, the textbook presents a systematic economic analysis of securitization, asking and answering why it exists, how it works, why it has failed, how complex structures operate, why they are so complex, and many other related questions. The author offers a unique approach, and combines detailed discussions of theoretical economics models with advanced empirical research in order to confront them to the perspective of an experienced practitioner in this market.

The Mechanics of Securitization

The Mechanics of Securitization

Author: Suleman Baig

Publisher: John Wiley & Sons

Published: 2013-01-09

Total Pages: 208

ISBN-13: 1118234545

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A step-by-step guide to implementing and closing securitization transactions Securitization is still in wide use despite the reduction in transactions. The reality is that investors and institutions continue to use this vehicle for raising funds and the demand for their use will continue to rise as the world's capital needs increase. The Mechanics of Securitization specifically analyzes and describes the process by which a bank successfully implements and closes a securitization transaction in the post subprime era. This book begins with an introduction to asset-backed securities and takes you through the historical impact of these transactions including the implications of the recent credit crisis and how the market has changed. Discusses, in great detail, rating agency reviews, liaising with third parties, marketing the deals, and securing investors Reviews due diligence and cash flow analysis techniques Examines credit and cash considerations as well as how to list and close deals Describes the process by which a bank will structure and implement the deal, and how the process is project managed and tested across internal bank departments While securitization transactions have been taking place for over twenty-five years, there is still a lack of information on exactly how they are processed successfully. This book will put you in a better position to understand how it all happens, and show you how to effectively implement an ABS transaction yourself.


Book Synopsis The Mechanics of Securitization by : Suleman Baig

Download or read book The Mechanics of Securitization written by Suleman Baig and published by John Wiley & Sons. This book was released on 2013-01-09 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: A step-by-step guide to implementing and closing securitization transactions Securitization is still in wide use despite the reduction in transactions. The reality is that investors and institutions continue to use this vehicle for raising funds and the demand for their use will continue to rise as the world's capital needs increase. The Mechanics of Securitization specifically analyzes and describes the process by which a bank successfully implements and closes a securitization transaction in the post subprime era. This book begins with an introduction to asset-backed securities and takes you through the historical impact of these transactions including the implications of the recent credit crisis and how the market has changed. Discusses, in great detail, rating agency reviews, liaising with third parties, marketing the deals, and securing investors Reviews due diligence and cash flow analysis techniques Examines credit and cash considerations as well as how to list and close deals Describes the process by which a bank will structure and implement the deal, and how the process is project managed and tested across internal bank departments While securitization transactions have been taking place for over twenty-five years, there is still a lack of information on exactly how they are processed successfully. This book will put you in a better position to understand how it all happens, and show you how to effectively implement an ABS transaction yourself.

Securitization

Securitization

Author: Vinod Kothari

Publisher: Wiley

Published: 2016-05-09

Total Pages: 900

ISBN-13: 9781118798638

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An updated exploration of the nuances of securitization in the global business market Synthetic securitization and structured products have revolutionized the financial industry and changed the way banks, institutional investors, and securities traders do business both domestically and globally. However, these complex structures are often misunderstood and easy to mishandle. This book uses global case studies to explain how they work and how best to capitalize on them. Since the subprime economic crisis began in 2008, much has changed in the way securitization transactions operate. Highly leveraged products have become less popular as investors search for safer, simpler options while regulators the world over have increased regulation over securitization transactions. This new edition of Securitization has been completely updated to reflect these changes, offering an up-to-the-minute look at the current state of securitization. Updated to reflect the latest regulatory and accounting changes Includes an accompanying website with access to Excel spreadsheets for cash-flow models and other resources Features international case studies from European, South American, and Asian transactions, making this book useful for a global audience For anyone who wants to understand how securitization works and how best to utilize it, Securitization offers comprehensive, up-to-date coverage of these complex transactions.


Book Synopsis Securitization by : Vinod Kothari

Download or read book Securitization written by Vinod Kothari and published by Wiley. This book was released on 2016-05-09 with total page 900 pages. Available in PDF, EPUB and Kindle. Book excerpt: An updated exploration of the nuances of securitization in the global business market Synthetic securitization and structured products have revolutionized the financial industry and changed the way banks, institutional investors, and securities traders do business both domestically and globally. However, these complex structures are often misunderstood and easy to mishandle. This book uses global case studies to explain how they work and how best to capitalize on them. Since the subprime economic crisis began in 2008, much has changed in the way securitization transactions operate. Highly leveraged products have become less popular as investors search for safer, simpler options while regulators the world over have increased regulation over securitization transactions. This new edition of Securitization has been completely updated to reflect these changes, offering an up-to-the-minute look at the current state of securitization. Updated to reflect the latest regulatory and accounting changes Includes an accompanying website with access to Excel spreadsheets for cash-flow models and other resources Features international case studies from European, South American, and Asian transactions, making this book useful for a global audience For anyone who wants to understand how securitization works and how best to utilize it, Securitization offers comprehensive, up-to-date coverage of these complex transactions.

Asset Backed Securities. Their Role Within the Financial Crisis

Asset Backed Securities. Their Role Within the Financial Crisis

Author: Franz Bauer

Publisher:

Published: 2020-08-20

Total Pages: 20

ISBN-13: 9783346245946

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Essay from the year 2020 in the subject Business economics - Investment and Finance, grade: 1,7, University of applied sciences, Munich, language: English, abstract: The subprime crisis in 2007 proved to be a decisive factor in the financial world and triggered a global financial crisis of unimagined proportions. This essay examines the role of asset-backed securities in the 2007/2008 financial crisis, focusing on the triggers and the process that eventually led to the bursting of the US real estate bubble. The paper also provides an overview of how the downturn in the US housing market was triggered and how the United States and the global economy slid into recession.


Book Synopsis Asset Backed Securities. Their Role Within the Financial Crisis by : Franz Bauer

Download or read book Asset Backed Securities. Their Role Within the Financial Crisis written by Franz Bauer and published by . This book was released on 2020-08-20 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2020 in the subject Business economics - Investment and Finance, grade: 1,7, University of applied sciences, Munich, language: English, abstract: The subprime crisis in 2007 proved to be a decisive factor in the financial world and triggered a global financial crisis of unimagined proportions. This essay examines the role of asset-backed securities in the 2007/2008 financial crisis, focusing on the triggers and the process that eventually led to the bursting of the US real estate bubble. The paper also provides an overview of how the downturn in the US housing market was triggered and how the United States and the global economy slid into recession.

The Securitization Markets Handbook

The Securitization Markets Handbook

Author: Charles Austin Stone

Publisher: John Wiley & Sons

Published: 2010-05-18

Total Pages: 333

ISBN-13: 0470882832

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In this long-awaited handbook, noted experts Charles Stone and Anne Zissu provide an enlightening overview of how securitization works and explain how future cash flows from various asset classes—from credit card receipts to mortgage payments—can be packaged into bond-like products and sold to investors. Once a marginal source of funds, securitization is now an essential corporate funding technique widely adopted by financial and industrial companies throughout the world to finance both working capital and capital budgets. It is also used as a risk-management tool and a source of liquidity. Securitization has been adapted to fund corporate acquisitions, to capitalize future streams of revenue, and to liquidate pools of nonperforming loans. With examples from companies such as GE Capital, Ford Motor Credit, Countrywide Home Loans, and D&K Healthcare, The Securitization Markets Handbook provides descriptions of all major classes of asset-backed securities and offers a practice-oriented commentary on trends in securitization and the value of asset- and mortgage-backed securities across industries and throughout the global markets. The authors approach the topic from both sides of the market: the supply side, where assets are securitized and mortgage- and asset-backed securities are issued, and the demand side, where investors choose which classes of mortgage and asset-backed securities will enhance their portfolios or serve as efficient hedges. The book’s detailed explanations and practical examples make it a valuable guide both for experienced money managers trying to put a securitization strategy into place and for those new to securitization looking to acquire a broad and strong foundation in the subject.


Book Synopsis The Securitization Markets Handbook by : Charles Austin Stone

Download or read book The Securitization Markets Handbook written by Charles Austin Stone and published by John Wiley & Sons. This book was released on 2010-05-18 with total page 333 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this long-awaited handbook, noted experts Charles Stone and Anne Zissu provide an enlightening overview of how securitization works and explain how future cash flows from various asset classes—from credit card receipts to mortgage payments—can be packaged into bond-like products and sold to investors. Once a marginal source of funds, securitization is now an essential corporate funding technique widely adopted by financial and industrial companies throughout the world to finance both working capital and capital budgets. It is also used as a risk-management tool and a source of liquidity. Securitization has been adapted to fund corporate acquisitions, to capitalize future streams of revenue, and to liquidate pools of nonperforming loans. With examples from companies such as GE Capital, Ford Motor Credit, Countrywide Home Loans, and D&K Healthcare, The Securitization Markets Handbook provides descriptions of all major classes of asset-backed securities and offers a practice-oriented commentary on trends in securitization and the value of asset- and mortgage-backed securities across industries and throughout the global markets. The authors approach the topic from both sides of the market: the supply side, where assets are securitized and mortgage- and asset-backed securities are issued, and the demand side, where investors choose which classes of mortgage and asset-backed securities will enhance their portfolios or serve as efficient hedges. The book’s detailed explanations and practical examples make it a valuable guide both for experienced money managers trying to put a securitization strategy into place and for those new to securitization looking to acquire a broad and strong foundation in the subject.

Credit Securitisations and Derivatives

Credit Securitisations and Derivatives

Author: Daniel Rösch

Publisher: John Wiley & Sons

Published: 2013-04-03

Total Pages: 464

ISBN-13: 1119966043

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A comprehensive resource providing extensive coverage of the state of the art in credit secruritisations, derivatives, and risk management Credit Securitisations and Derivatives is a one-stop resource presenting the very latest thinking and developments in the field of credit risk. Written by leading thinkers from academia, the industry, and the regulatory environment, the book tackles areas such as business cycles; correlation modelling and interactions between financial markets, institutions, and instruments in relation to securitisations and credit derivatives; credit portfolio risk; credit portfolio risk tranching; credit ratings for securitisations; counterparty credit risk and clearing of derivatives contracts and liquidity risk. As well as a thorough analysis of the existing models used in the industry, the book will also draw on real life cases to illustrate model performance under different parameters and the impact that using the wrong risk measures can have.


Book Synopsis Credit Securitisations and Derivatives by : Daniel Rösch

Download or read book Credit Securitisations and Derivatives written by Daniel Rösch and published by John Wiley & Sons. This book was released on 2013-04-03 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive resource providing extensive coverage of the state of the art in credit secruritisations, derivatives, and risk management Credit Securitisations and Derivatives is a one-stop resource presenting the very latest thinking and developments in the field of credit risk. Written by leading thinkers from academia, the industry, and the regulatory environment, the book tackles areas such as business cycles; correlation modelling and interactions between financial markets, institutions, and instruments in relation to securitisations and credit derivatives; credit portfolio risk; credit portfolio risk tranching; credit ratings for securitisations; counterparty credit risk and clearing of derivatives contracts and liquidity risk. As well as a thorough analysis of the existing models used in the industry, the book will also draw on real life cases to illustrate model performance under different parameters and the impact that using the wrong risk measures can have.

Securitization of Financial Assets

Securitization of Financial Assets

Author: Kravitt

Publisher: Wolters Kluwer

Published: 2012-12-18

Total Pages: 1902

ISBN-13: 0735561923

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Book Synopsis Securitization of Financial Assets by : Kravitt

Download or read book Securitization of Financial Assets written by Kravitt and published by Wolters Kluwer. This book was released on 2012-12-18 with total page 1902 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Asset Securitization

Asset Securitization

Author: Joseph Hu

Publisher: John Wiley & Sons

Published: 2011-03

Total Pages: 288

ISBN-13:

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Asset Securitization is a comprehensive discussion of securitization by a renowned expert in the field. --Book Jacket.


Book Synopsis Asset Securitization by : Joseph Hu

Download or read book Asset Securitization written by Joseph Hu and published by John Wiley & Sons. This book was released on 2011-03 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Asset Securitization is a comprehensive discussion of securitization by a renowned expert in the field. --Book Jacket.